History of GLCF in the State of Michigan

In Michigan, Great Lakes Capital Fund has offices in Lansing and Detroit. The Lansing Office is located at 1000 S. Washington and houses Development and Asset Management staff that serve communities throughout Michigan and also help, as needed, in other states. The Lansing office also serves as the hub for our main support services: Investor Relations, Fund Management, Accounting, Underwriting, IT, and Personnel for the four-state region.

Affiliated organizations such as Capital Fund Services (Consulting Services), Capital Fund Title Services (Title Policies), Capital Fund Investment Corporation (Permanent Mortgage program), Property Stabilization (Management of troubled properties), Michigan Magnet Fund (manager of New Market Tax Credits), and CapFund New Markets LLC (recognized as a CDE by the New Markets program) also operate out of the Lansing Office.

The Southeast Michigan office is located at 3627 W. Vernor in Detroit's Mexicantown neighborhood. Staff for Asset management and Development for most of the Southeast Michigan communities is housed in the Detroit office. Although the portfolio of the Great Lakes Capital Fund is constantly growing, as of August 2007, an investment of $268,489,727 has leverage almost half a billion dollars in 66 communities to create close to 4,000 affordable homes, in Detroit alone.

Outside Detroit, Great Lakes Capital Fund has invested an additional $365,941,431 to leverage over a billion dollars of development in 134 cities and townships throughout the state. This has funded over two hundred communities for a total of about 13,500 affordable homes!

GLCF also has been certified as a Community Development Financial Institution (CDFI) and serves as manager for Michigan Magnet Fund to administer a $60 million allocation of New Markets Tax Credits.